A group of billionaire owners brush in the market’s fear and investment in their companies in an attempt to benefit from volatility.
Person and Londin’s families, along with Carlos Selim, have invested $ 96.3 million in their companies, Reports Bloomberg.
The Pearson family has invested approximately $ 78 million to boost their share in H&M, as their company is a major shareholder.
The Lundin family spent about $ 16 million on April 3 to increase its share in Lundin Mining.
Meanwhile, Slim bought $ 2.3 million in PBF Energy shares on the same day, as energy prices fell.
The purchase boom followed the market resulting from Trump’s ads on April 2, as PBF Energy fell more than 26 % by April 8.
According to what was reported, the incident reached the billionaires with a historic loss of $ 536 billion for wealth in the two days of tariffs-the largest decrease for two days recorded by the Bloomberg billionaires.
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